![]() Graphical representation of Exchange rate of INR per USD Let’s see the USD-INR rates from 1947 to 2020 Since the independence Rupee has been on a weakening trend. INR on the other hand is no exception in trading on a global level. Also, one of the most recognisable currencies in the whole world is USD. The volume of business where USD is a part is huge. Most of the other international currencies are pegged against dollars to determine their value on a global level. America’s economic world supremacy has made its currency very strong. We needn’t explain how powerful the US dollar is. The absence of a standard form of currency comparison until 1944 resulted in proving the first argument practical. Hence by this logic, we can conclude that 1 Rupee was equal to 1 USD in 1947. Thus it can be inferred that Indian rupee was at parity with USD. It was a new nation with no foreign debt/credit on its national balance sheet. ![]() India achieved independence on the 15th of August 1947. Hence we can conclude that on spending 1 Rupee we could not have bought 1 USD in 1947. Now let’s see the exchange rates of INR in 1947 with respect to the Pound Sterling and US Dollar. So before USD was taken as the standard global currency, INR was fixed against Pound Sterling. ![]() ![]() This pegging pattern continued till 1966. Approach 1īritish regime in India ended in 1947 and the Indian currency then was pegged against the Pound Sterling. The statement cannot be regarded as either true or false. Let us look into this with some facts from history. So ‘was 1 rupee really equal to 1 USD in 1947’? Or was it just a fallacy? Of late there has been an outrage on social media claiming that you could get 1 USD with 1 INR in 1947 when India became independent. Purchasing power compared to the Indian Rupee over the last 10 years.Was 1 Rupee Really Equal To 1 USD In 1947? Is the US Dollar up or down against the Indian Rupee? The US Dollar is currently stronger than the Indian Rupee given that 1 USD is equal to 82.836 INR.Ĭonversely, 1 INR is worth 0.01207 USD. If you execute a trade late in the week, it might not settle until the following week given that forex markets are closed on weekends. Also, it’s best to convert US Dollars to Indian Rupees early in the week if you need Indian Rupees urgently. However, the time between 3-4 PM GMT is often a good time to convert US Dollars to Indian Rupees because currency market liquidity and trading volume tend to be the highest during this time. Exchange rates can fluctuate by the minute while markets are open. The USD and INR can be traded 24x5 starting from the time markets open on Monday mornings in Sydney all the way to the time markets close on Fridays at 5 pm in New York. When is the best time to convert USD to INR? In the last 10 years, the highest rate from US Dollars to Indian Rupees was on Octowhen each US Dollar was worth ₹82.996. What was the highest USD to INR exchange rate in the last 10 years? How much is $100 in INR?ġ00 US Dollars = 8,283.55 Indian Rupees as of Aug11:15 AM UTC. Which aggregates real-time forex data from the most authoritative sources. You can get live exchange rates between US Dollars and Indian Rupees using , USD to INR Currency Converter - FAQs How much is $1 in INR?ġ US Dollar = 82.836 Indian Rupees as of Aug11:15 AM UTC. You’ll now see the value of the converted currency according to the most recent exchange rate. Simply enter the amount of USD you want to convert to INR in the box labeled "Amount", and you’re done! You can convert US Dollars to Indian Rupees by using the currency converter in just one easy step. How to Convert US Dollars to Indian Rupees? ![]() To view rates between the US Dollar and the Indian Rupee for a particular year, click on one of the links below. ![]()
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